Krensavage Asset Management, LLC
Long book
$255.7M
Q1 2026
Positions
20
Top-10 weight
87%
concentration
Last quarter
+9.4%
SPY +14.8%
Turnover
35%
of book per quarter
Strategy in plain words
auto-generated from filingsKrensavage Asset Management, LLC is a concentrated fundamental stock-picker, specialised in healthcare (100% of the long book), running a $255.7M US long book across 20 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: UNITED THERAPEUTICS CORP, ENANTA PHARMACEUTICALS INC, JAZZ PHARMACEUTICALS PLC, BIOMARIN PHARMACEUTICAL INC, EXELIXIS INC.
Over the last 9 quarters its long book ran on average 3.2pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.9%
Q2 2024
+6.7%
Q3 2024
+0.3%
Q4 2024
-0.8%
Q1 2025
+9.7%
Q2 2025
+24.2%
Q3 2025
+18.2%
Q4 2025
-0.2%
Q1 2026
+9.4%
Sector allocation
Healthcare 100%
Long book by quarter
What does Krensavage Asset own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| UTHR UNITED THERAPEUTICS CORP | Healthcare | 84.3K | $50.0M | 19.5% | -7.7% |
| ENTA ENANTA PHARMACEUTICALS INC | Healthcare | 2.9M | $36.2M | 14.2% | +3.6% |
| JAZZ JAZZ PHARMACEUTICALS PLC | Healthcare | 167.8K | $31.7M | 12.4% | Held |
| BMRN BIOMARIN PHARMACEUTICAL INC | Healthcare | 524.8K | $29.6M | 11.6% | Held |
| EXEL EXELIXIS INC | Healthcare | 415.7K | $17.8M | 7.0% | -15.8% |
| SUPN SUPERNUS PHARMACEUTICALS INC | Healthcare | 280.7K | $14.5M | 5.7% | -10.5% |
| INDV INDIVIOR PHARMACEUTICALS INC | Healthcare | 339.5K | $10.3M | 4.0% | New |
| RARE ULTRAGENYX PHARMACEUTICAL IN | Healthcare | 390.9K | $8.2M | 3.2% | +161.2% |
| VNDA VANDA PHARMACEUTICALS INC | Healthcare | 1.2M | $8.2M | 3.2% | Held |
| EMBC EMBECTA CORP | Healthcare | 735.3K | $6.5M | 2.5% | New |
| ALKS ALKERMES PLC | Healthcare | 107.8K | $3.8M | 1.5% | Held |
| BIIB BIOGEN INC | Healthcare | 20.0K | $3.7M | 1.4% | +100.0% |
| REGN REGENERON PHARMACEUTICALS | Healthcare | 4.0K | $3.1M | 1.2% | Held |
| ARDX ARDELYX INC | Healthcare | 500.0K | $3.0M | 1.2% | New |
| INMD INMODE LTD | Healthcare | 120.9K | $1.7M | 0.6% | New |
| EOLS EVOLUS INC | Healthcare | 158.0K | $649K | 0.3% | +58.0% |
| ABT ABBOTT LABORATORIES | Healthcare | 5.0K | $513K | 0.2% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 20 | $255.7M | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 18, 2026 | 18 | $283.1M | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 17, 2025 | 17 | $234.7M | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 15, 2025 | 15 | $188.9M | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 14 | $180.9M | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR/ARESTATEMENT | Feb 18, 2025 | 12 | $169.0M | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 18, 2025 | 12 | $169K | SEC ↗ | |
| Q3 2024 | 13F-HR | Nov 15, 2024 | 13 | $178.5M | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 15, 2024 | 13 | $217.8M | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 12 | $225.5M | $K fixed canonical | SEC ↗ |